Recreational Vehicles Market: Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021
Recreational vehicles are simple motor vehicles or trailers that are modified with facilities and leaving a place such as a home. Recreational vehicles can be used on highways or off the highways for the purpose of camping, vacation, and pleasure. Recreational vehicles are also known as the motorhome, camper van, and caravan. The main advantages of recreational vehicles are they provide the user with leisure facilities such as bathroom facilities, kitchen, sleeping beds during travel and camping. However, having recreational vehicles is not an easy task. It requires license and registration and it needs to follow some rules. Earlier, recreational vehicles were traditionally facilitated with sleeping beds, kitchens, bathrooms, and air-conditioning. Modern recreational vehicles are totally different and are equipped with additional communication systems, high-tech entertainment, making it more comfortable and convenient for the user. Moreover, electronic gadgets are introduced in the recreational vehicles such as satellite dishes, cellular phones, CD and DVD players, video game systems, and flat-screen TVs.
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Some of the major growth factors of the global recreational vehicles market are high-tech features, advanced technology, improved economy, and higher consumer confidence. In addition, increasing interest of young and old generation in recreational vehicles will also boost the recreational vehicles market in the near future. Moreover, cool gadgets and innovative features will also increase the demand in the coming future. Technological advancements and high-tech features integrated into these vehicles will impact the growth of the market in a positive way.
On the basis of product type, the global recreational vehicles market is segmented as the travel trailer, motor homes, camping trailers, and campers. The motorhomes segment is further sub-segmented as type-A motorhomes, type-B motorhomes, and type-C motorhomes. The travel trailers segment is also sub-segmented as fifth-wheel travel trailers and conventional travel trailers. The camping trailers segment is sub-segmented as folding camping trailer and truck camper.
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Asia Pacific is the leading segment in the global recreational vehicle market owing to its increasing population and stable financial conditions. In addition, China is the growing market for recreational vehicles, as its focus is mainly on tourism, campgrounds, and the recreational vehicles industry. Also, factors such as improving economy and demand for leisure-related goods and activities boost the global market in China. North America is anticipated to witness significant growth. Furthermore, the U.S. is dominating the global market in the North American region due to factors such as exponential economic growth and healthier financing environment.
Some of the major key players in the recreational vehicles market are Thor Industries Inc., Gulf Stream Coach, Inc., Eclipse Recreational Vehicles Inc., Coachmen Recreational Vehicle Company, Heartland Recreational Vehicles, LLC, Starcraft RV Inc., Skyline Corporation, Monaco RV, LLC, Jayco Inc., Fleetwood RV, Inc., Forest River, Inc., and Universal Trailer Corporation.
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Recreational Vehicles Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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